UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 208,866 Shares of Fortive Co. (NYSE:FTV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Fortive Co. (NYSE:FTV - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,653,071 shares of the technology company's stock after purchasing an additional 208,866 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.05% of Fortive worth $273,980,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Parvin Asset Management LLC bought a new stake in Fortive in the fourth quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new stake in Fortive in the fourth quarter worth approximately $31,000. Crews Bank & Trust bought a new stake in Fortive in the fourth quarter worth approximately $37,000. Albion Financial Group UT bought a new stake in Fortive in the fourth quarter worth approximately $38,000. Finally, Quarry LP increased its holdings in Fortive by 229.6% in the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock worth $38,000 after purchasing an additional 349 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FTV. Wells Fargo & Company increased their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, February 10th. Robert W. Baird cut their price objective on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada increased their price objective on shares of Fortive from $68.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price objective on shares of Fortive from $73.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Truist Financial cut their price objective on shares of Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Fortive has an average rating of "Moderate Buy" and an average price target of $81.92.

Insiders Place Their Bets

In other news, CEO James A. Lico sold 175,000 shares of Fortive stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the sale, the chief executive officer now directly owns 428,585 shares in the company, valued at $31,029,554. The trade was a 28.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 3,002 shares of Fortive stock in a transaction on Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the sale, the senior vice president now owns 42,373 shares in the company, valued at $3,349,585.65. The trade was a 6.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,712 shares of company stock valued at $33,237,008. Corporate insiders own 1.01% of the company's stock.

Fortive Stock Down 0.7%

Shares of FTV stock traded down $0.46 during trading hours on Friday, reaching $69.69. The company had a trading volume of 3,464,227 shares, compared to its average volume of 2,541,438. Fortive Co. has a 12 month low of $60.39 and a 12 month high of $83.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The business has a fifty day simple moving average of $69.49 and a 200-day simple moving average of $74.84. The company has a market cap of $23.69 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10.

Fortive (NYSE:FTV - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, meeting analysts' consensus estimates of $0.85. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $0.83 earnings per share. The company's revenue for the quarter was down 3.3% on a year-over-year basis. On average, research analysts expect that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Friday, May 30th. Fortive's payout ratio is 14.04%.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.